Dubli Network @ BehindMLM

BehindMLM last checked in on Dubli back in 2019. Following tens of millions in losses over the years, five out of parent company Ominto’s board members resigned in mid 2018. A year later it was revealed the SEC had been investigating the company for securities fraud. Ominto settled the allegations. Dubli founder Michael Hansen stayed [Continue reading…]

The FTC has issued at least 379 MLM companies with deceptive and/or unfair conduct notices. This was announced by the FTC on October 26th. If it slipped under your radar, you’re not alone. I learned of the FTC’s announcement via a tip sent in by a reader. At first I thought there was some funny [Continue reading…]

Dubli’s parent company Ominto has come under fire from the SEC, after the company failed to file annual reports since September 2016.

Prior to delisting itself from the NASDAQ exchange over ongoing compliance issues, Ominto had a six-team Board of Directors. On May 18th, three days after the NASDAQ delisting was announced, five of Ominto’s Board of Directors resigned.

In a May 14th press-release, Dubli (trading as Ominto) has announced it will voluntarily delist itself from the Nasdaq Capital Market. The official reason for the voluntary delisting is ongoing non-compliance with regulatory filing requirements.

For a company that’s been around since 1999, you’d think Dubli (Omnito) would have had plenty of time to fine tune its business model into profitability. Things were looking pretty bleak this time last year, with Dubli reporting $13.9 million dollars in losses. The good news? Dubli managed to reduce their losses in 2016. The [Continue reading…]

Over 2014 and 2015 Ominto (Dubli) lost a combined $24.5 million dollars. In 2016 Ominto’s heavy losses look set to continue, with the company’s recent 10-Q filing revealing a $1.9 million third-quarter loss.

Things are looking pretty bleak over at Ominto, with the company yesterday announcing combined losses of almost $25 million since 2015. The revelation is part of Ominto’s annual Form 10-K filing, filed on January 13th for the fiscal year September 30th 2014 to September 30th 2015.

Following a the publishing of a now-deleted video, in which Tony Rush, Randy Schrum, Kristian Hoenicke and John Lavenia sat around a table and jovially announced they would not be attending the next Dubli event, now news that Dubli has terminated the four Vice-President ranked affiliates. All is not what it seems though, with Rush, Schrum, [Continue reading…]

Whether or not they reached out to Dubli or not is unclear, but yesterday BusinessForHome published an interesting “statement from Dubli corporate”. The statement is in response to a YouTube video featuring WUKAR’s Matt Trainer, published last week. In the video Trainer (right) alleged a number of representations were made to him by Dubli corporate, none [Continue reading…]